China to become world's largest economy in 2020: PWC

Jan. 22, 2010 (China Knowledge) - PricewaterhouseCoopers, the largest of the Big Four auditing firms in the world, said in a recent report that China will overtake the U.S. to become the world's largest economy as early as 2020.

China is likely to be some way ahead of the U.S by 2030, said John Hawksworth, head of macroeconomics at PWC.

According to the report, the top 10 economies by 2030 will be China, the U.S., India, Japan, Brazil, Russia, Germany, Mexico, France and Britain.

It is also predicted that China's share in global GDP will be 19% by 2030, while the proportion for the U.S. and EU will be 16% and 15% respectively.